On February 1, Yanzhou Energy, a leading enterprise in the coal industry, disclosed a major asset disposal announcement, revealing that its wholly-owned subsidiary, Yanzhou Energy (Ordos) Co., Ltd., publicly listed the transfer of the entire equity of Inner Mongolia Xintai Coal Co., Ltd. (hereinafter referred to as "Xintai Coal") through the Shandong Property Rights Exchange. The listing price was set at 670 million yuan, marking a substantial step in the company's asset optimization and resource integration efforts. This equity disposal strictly adheres to state-owned asset transaction regulations, with the listing period running from December 30, 2025, to January 27, 2026, ensuring full transparency throughout the process. In terms of valuation, based on audited financial data, the income approach was employed to assess the total equity value of Xintai Coal at 624 million yuan, representing a 607.66% increase over the benchmark net assets and highlighting the potential value of its assets. Regarding the transaction's impact, Yanzhou Energy clarified that if the equity transfer is ultimately completed, it will significantly affect the company's net profit attributable to shareholders in 2026. The specific impact will require further calculation based on the final transaction price, associated costs, and audited financial data. Notably, this transaction does not involve employee resettlement arrangements, as all debts and liabilities under Xintai Coal will be fully assumed by the transferee, effectively mitigating related disposal risks. As an industry leader, Yanzhou Energy is the largest coal producer in East China and a top-tier coal exporter in China, boasting a highly advantageous industrial layout. Domestically, the company operates across key coal-producing regions such as Shandong, Shanxi, Shaanxi, and Inner Mongolia, with its own railway network and modern water transport terminals. Leveraging major transportation arteries like the Beijing-Shanghai Railway and Beijing-Fuzhou Expressway, it has become a highly competitive coal supplier in Northeast Asia and the East and South China markets. Internationally, Yanzhou Energy has established coal operations in multiple states of Australia and holds potash resources in Saskatchewan, Canada, forming a synergistic industrial structure that integrates domestic and international development. The disposal of Xintai Coal's equity may represent a strategic move to focus on core high-quality assets and optimize the industrial structure, thereby enhancing overall operational efficiency and profitability.